Watermelon, Inc. provides the following data: Cash Accounts Receivable, Net Merchandise Inventory Property, Plant, and Equipment,...

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Watermelon, Inc. provides the following data: Cash Accounts Receivable, Net Merchandise Inventory Property, Plant, and Equipment, Net Total Assets Additional information for the year ending December 31, 20X9: Net Credit Sales $500,000 Cost of Goods Sold 150,000 Interest Expense 23,000 Net Income 183,000 Calculate the rate of return on total assets for 20X9. O 71.21% 62.42% 20X9 20X8 $42,000 $25,000 100,000 62,000 79,000 50,000 182,000 120,000 $403,000 $257,000 51.12% 45.41% Watermelon, Inc. provides the following data: Cash Accounts Receivable, Net Merchandise Inventory Property, Plant, and Equipment, Net Total Assets Additional information for the year ending December 31, 20X9: Net Credit Sales $500,000 Cost of Goods Sold 150,000 Interest Expense 23,000 Net Income 183,000 Calculate the rate of return on total assets for 20X9. O 71.21% 62.42% 20X9 20X8 $42,000 $25,000 100,000 62,000 79,000 50,000 182,000 120,000 $403,000 $257,000 51.12% 45.41%

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The rate of return on total assets is calculated using the formu... View the full answer